Federal Bank gains 1% as Centrum initiates with buy, target Rs 135

The lower incremental stress is expected, while drivers are in place for NIM expansion, says Centrum.

Shares of Federal Bank gained 1 percent in the early trade on Tuesday after Centrum initiated buy with a price target of Rs 135 per share.

Research house expects asset growth is driven by quality and company is increasing its pan India presence.

Its network distribution is going to boost the operating efficiency.

The lower incremental stress is expected, while drivers are in place for NIM expansion, it added.

At 09:35 hrs Federal Bank was quoting at Rs 94.65, up Rs 0.65, or 0.69 percent on BSE.

The share touched its 52-week high Rs 116.75 and 52-week low Rs 67.05 on 15 January, 2018 and 05 October, 2018, respectively.

Currently, it is trading 19.06 percent below its 52-week high and 40.94 percent above its 52-week low.

MOST VALUABLE FINANCIAL ADVISORY WITH ACCURATE TIPS ARE HERE. FOR ANY ASSISTANCE TO TRADE IN FINANCIAL MARKET, CLICK HERE FOR MORE >> Call Put Option Tips OR GIVE ONE MISSED CALLED ON 9644405056